Report: Lightning begin process for sale with value close to $2B

The Tampa Bay Lightning started a multistage sale process that will value the organization at close to $2 billion, sources told Sportsnet's Elliotte Friedman.

While the deal isn't done, Doug Ostrover is believed to be the purchaser, Friedman added. The cofounder and co-CEO of Blue Owl Capital, Ostrover has a net worth of $2.8 billion, per Forbes.

Current owner Jeff Vinik will reportedly keep a significant ownership stake as part of the new group and retain full control of the franchise for the next several years.

"We are in discussions to further expand our ownership group of the Tampa Bay Lightning," Vinik said in a statement, per Eduardo Encina of the Tampa Bay Times. "There will be no change in the day-to-day operations of the Lightning and Vinik Sports Group. I am very excited about what is to come for the organization, and we look forward to sharing more when the time is right."

Vinik purchased the Lightning for $170 million in 2010 and has overseen two Stanley Cup championships and another two trips to the final.

Forbes valued the Lightning at $1.25 billion - the 13th highest in the NHL - in December 2023.